MetaTrader 4 (MT4) is a Windows-based electronic trading platform with automated trading capabilities. OANDA clients require an fxTrade account with an MT4 sub-account in order to access a licensed version of the MT4 platform that is hooked up with OANDA’s execution and spreads.

In order to sign into OANDA MT4, you need to enter the account number and password associated with your MT4 sub-account and then select the server you would like to access.

If you need to find the account number for your MT4 sub-account, sign into the Funds Management System. An account number will be displayed in the same row as each of your sub-accounts. You can identify which sub-accounts are compatible with MT4 by looking for a small MT4 icon beside the name.

As a live fxTrade account holder, you have the option of signing into servers aligned to either midnight GMT+2 or midnight GMT-5. The GMT+2 Live server is aligned to the New York Close and supports five daily candles per week. The GMT-5 Live server is aligned to midnight Eastern time, which results in 6 daily candles per week.

fxTrade Practice clients have only one option available and should select the GMT-5 Practice server.

Please be aware that if you are not a Japanese client you should not sign into the Japan Live or Japan Practice servers. They do not support clients from other regions.

To fund your MT4 account you must first ensure that your fxTrade account is funded. When depositing funds, OANDA supports any amount above $1. However, the smallest MT4 trading size is a micro lot (1,000 units), so with 50:1 leverage, the minimum amount to make this trade would be 20 units (or more for lower leverage).

Once you have funded your fxTrade account, sign in to the Funds Management System, and transfer funds into your MT4 sub-account(s).

Expert Advisors (EAs) are programs that have been developed in MetaQuotes Language 4 (MQL 4) and are used to automate analytical and trading processes. These programs perform prompt technical analysis of price data, and manage trading activities on the basis of pre-programmed trading strategies. The entire routine work of technical analysis and trading can be programmed into an EA. However, please be aware that the OANDA MetaTrader 4 platform must be running on your computer, and it must be connected to OANDA’s servers, in order to run a EA.

Important Note: EAs are automated trading tools developed by third parties. OANDA cannot provide support for an externally developed EA and assumes no liability for loss attributable to the use of EAs on the MetaTrader 4 software.

A custom indicator is a program developed in MetaQuotes Language 4 (MQL 4) by the user and functions as a technical analysis trading indicator. Technical indicators are mathematical calculations of currency pair prices created to help forecast future price changes. Traders use indicators to help assess if a current trend will remain the same, and where it will turn. Indicators are intended to simplify the complicated process of decision making in trading. Their algorithms are also used to develop trading tactics and EAs.

1) Sign in – You can sign in to the fxTrade platform using your username and password. You need the number of your MT4 sub-account and a unique password to sign into OANDA MT4.

2) Units versus Lots -- You can trade any amount with the OANDA fxTrade platform, even a single unit. On OANDA MT4, you can only trade lots (100,000 units), mini lots (tenths of a lot), or micro lots (hundredths of a lot).

3) Drawing Candles -- The fxTrade platform draws all candles that occur during trading hours using your choice of the midpoint, the bid, or the ask. MT4 uses bid prices to build all candles and does not draw candles that do not contain any ticks.

4) Account Balance / Reports — The two platforms can sometimes become out of sync with one another and display contrasting information. When this occurs the balance shown on the fxTrade platform will be the one used in all calculations, including for margin closeouts.

Margin alerts and margin closeouts are always calculated and executed by the fxTrade servers. If your account doesn't have enough funds to cover your open trades, the OANDA servers will close all of your open trades. This will be transmitted to the MT4 server and represented as many trades closing.

Unfortunately, there is no functionality in MT4 for issuing margin warnings. However, you can see full-account balance details when you sign in to the fxTrade platform.

OANDA MT4 only lets you trade in lots, mini lots, and micro lots (where one lot is 100,000 units, mini lots are 0.1 of a lot, and micro lots are 0.01 of a lot). The minimum trade size is 1 micro lot, which equates to 1,000 units on the fxTrade platform.

The maximum trade size is 100 lots (or 10 million units) on a single trade for all currency pairs. This maximum trade size may be smaller for other instruments, and can be found here.

You can still place trades of any size from the fxTrade platform. However, be aware that if you enter more precise trades there will be discrepancies between the records of OANDA MT4 and the fxTrade platform because MT4 is not able to show the necessary level of accuracy for any-size trades.

2) There is insufficient liquidity in the market to support your trade.

3) You exceeded the maximum trade size.

4) The duration of your limit order exceeds the maximum of 100 days.

5) There is not a recent tick for that instrument in MT4 (in this case, you should still be able to trade the instrument on the fxTrade platform).

6) You attempt to close a trade in an order that does not comply with the National Futures Association’s (NFA) "First In, First Out" (FIFO) policy.
You should also see an explanation that includes more details in your MT4 mailbox at the time you attempt to close the trade.

You should also see an explanation that includes more details in your MT4 mailbox at the time you attempt to close the trade.

Trailing stops on the OANDA MT4 platform are hosted on your computer. This means that if your computer is not running OANDA MT4, the trailing stops are not being tracked and will not close any trades. If you would like to ensure your trailing stops are always being tracked, even when you're offline, you can create them using the fxTrade platform instead.

The OANDA MT4 platform is hosted on its own server and can be accessed at anytime. However, all execution is passed through to the fxTrade system. This means that when fxTrade is offline for maintenance, MT4 clients won't be able to execute trades.

Positive interest will show up as a deposit; negative interest will show up as a withdrawal. Also, if during a re-sync with fxTrade there was a trade closure that was missed, it will show up as a deposit if profitable or a withdrawal if not profitable.

OANDA MT4 is populated with daily rates going back to 2002.
Please be aware that the historical tool provided by MT4 is not recommended. It is not supported by OANDA and will display rates that are inconsistent with those from the fxTrade platform.

Disclaimer

Expert Advisors (EA) are automated trading tools developed by third parties. OANDA assumes no liability for loss attributable to the use of EAs on the MetaTrader 4 software.

OANDA Technical Analysis, including Autochartist services and content, is provided for informational purposes only, and does not take into account any individual's personal circumstances, investment objectives, or risk tolerance.